Ernst & Young becomes EY as new leader takes helm

Ernst & Young has a new brand name, EY, and a new leader, Mark Weinberger.

Weinberger, 51, officially became EY’s global chairman and CEO on Monday, the firm said in a news release. He replaced Jim Turley, who retired after 12 years as the firm’s chair and CEO.
 
Weinberger’s previous leadership positions with the firm include global and Americas head of tax. He served as the assistant Treasury secretary overseeing tax policy under President George W. Bush and was appointed to the U.S. Social Security Advisory Board by President Bill Clinton. 

In one of his first acts as chairman and CEO, Weinberger announced that Ernst & Young is rebranding itself as EY. “Shortening our name will provide consistency and ease of use for EY practices and clients around the world,” he said in a news release.

EY also unveiled a new logo and tagline, “Building a better working world.”

“Our new brand name and logo demonstrate clearly and boldly who we are and reflect the goal we have recently set ourselves to be the number one brand in our profession,” Weinberger said in the release.

Weinberger’s move to the top job at EY has been in the works for 18 months. EY announced in January 2012 that Weinberger would replace Turley, who had announced his retirement plans a couple of months earlier.

Based in London, EY employs 167,000 people in more than 700 offices, located in more than 140 countries. The firm produced global revenues of $24.4 billion in the fiscal year that ended June 30, 2012.

—Jeff Drew (jdrew@aicpa.org) is a JofA senior editor.